Check Your Knowledge of crypto investing!
Not more than US$1,000 at a time
The more you invest, the better
Not more than you can afford to lose
The exact limit of funds you can invest in cryptocurrencies depends on your financial means, but the most important rule is that you shouldn’t invest more money than you can safely lose.
Bitcoin is the king of cryptocurrencies, so it’s better to put all the money in it
Ethereum is a promising currency which yields higher profits, it would be the top bet
Litecoin is more stable than Bitcoin, it’s the best choice
The best option is to invest in several different cryptocurrencies
This one wasn’t too difficult, was it? Of course, it’s quite important for an investor not to put all the eggs in one basket.
When the price of a currency is rising
When the price is fixed at a relatively low level
When the value of the currency is falling
It’s not a good idea to invest at the peak of a bubble, and neither would it be wise to buy a currency when its price is decreasing.
A flash drive you often use
A physical device not connected to the internet
A wallet in an exchange service
Other options can also work, especially if you are storing relatively small amounts for a limited time, but a hard, “cold” wallet is most reliable.
Sell everything immediately!
Hold it bravely no matter what
Wait for some time, examine the dynamics on the market and long-term predictions, and only then make a decision
Both extremes might not be profitable for you, so taking a thoughtful approach and carefully examining the market would be the best rules.
The currency is not very popular
The currency doesn’t have a clear, well-formulated white paper
The currency doesn’t have a strong leadership team, and its creators are anonymous
The creators promise that you will receive a 300% profit three months after you invest
If the currency is not very popular, it’s not a red flag by itself. By comparison, you should avoid investing in a currency which doesn’t have a thoughtful white paper or a strong leadership team, not to mention if its creators promise guaranteed gains.